This week, the trend of domestic fluorite prices has stopped falling and stabilized. As of the weekend, the average price of domestic fluorite was 3375 yuan/ton, unchanged from the beginning of the week at 3375 yuan/ton, and remained stable year-on-year.

Supply side: Limited mining operations and tight supply of fluorite

The current situation of the game in the domestic fluorite industry still exists. Overall, the operating rate of enterprises has not changed much. Upstream mining is tight, backward mines will continue to be eliminated, and new mines will be added. Mineral investigation work is still difficult. In addition, national departments need to rectify fluorite mines, and fluorite mining enterprises are facing increasingly strict safety and environmental protection requirements. Although the rectification action is coming to an end, the affected area has not narrowed. The difficulty of operating fluorite mines has increased, and the shortage of raw materials has limited the operation of fluorite enterprises. The supply of fluorite sources is still tight, and fluorite enterprises have low inventory levels. Recently, the fluorite market has stopped falling.

Demand side: Weak demand for hydrofluoric acid, refrigerant market has risen slightly

Recently, the domestic hydrofluoric acid market has fluctuated at a low level, with mainstream prices ranging from 10300 to 10800 yuan/ton negotiated in various regions of China. The downstream hydrofluoric acid market is consolidating weakly, with some units still being shut down recently. There is little change in the spot supply of hydrofluoric acid, and manufacturers have low orders for purchasing hydrofluoric acid. The overall production of hydrofluoric acid is less than 60%, which has dragged down the domestic fluorite market. Some hydrofluoric acid manufacturers purchase on demand, and downstream demand is poor. The domestic fluorite market remains low.

The downstream refrigerant market has seen some market trends rise, with rapid digestion of summer after-sales demand and continued destocking throughout the year. Fluorine chemical companies within quota control have strong confidence in maintaining stable prices in the refrigerant market. Currently, prices in the foreign trade market are gradually increasing, with upstream products being mainly purchased on demand. The market for some refrigerant products has risen, which has led to a halt in the decline of the fluorite market.

In addition to the traditional demand in the refrigerant industry, fluorite, as an important mineral raw material for modern industry, is constantly developing in emerging fields. It is also applied in strategic emerging industries such as new energy and new materials, as well as national defense, nuclear industry, etc., including lithium hexafluorophosphate, PVDF, graphite negative electrode, photovoltaic panel, etc. With the demand driven by new energy and semiconductor fields, fluorite applications have received certain support, and the fluorite market is still supported.

Market forecast: In the near future, it is difficult to improve the supply of domestic fluorite mines, and some mines have stopped production and undergone safety inspections. The tight supply of fluorite mines is a major positive support for the fluorite market. Recently, the downstream refrigerant product market has risen, but the downstream hydrofluoric acid market is weak. In addition, imported fluorite sources have formed a certain impact on the market, and both long and short factors have jointly affected it. Chen Ling, an analyst at Business Society, believes that fluorite prices will mainly fluctuate in the later stage.

Recently (9.10~9.18), the market price of Shunding rubber has risen. According to the commodity market analysis system of Shengyi Society, as of September 18, the market price of Shunding rubber in East China was 16020 yuan/ton, an increase of 3.96% from 15410 yuan/ton on September 10. The price of raw material butadiene continues to rise, and the cost is supported by butadiene rubber; Shunding rubber production is still at a low level; The downstream tire production is generally stable. Some suppliers of Shunding rubber have raised their supply prices, and some merchants have followed suit with their offers.

Recently, the price of butadiene has risen, providing support for the cost of butadiene rubber. According to the Commodity Market Analysis System of Shengyi Society, as of September 18th, the price of butadiene was 13550 yuan/ton, an increase of 4.73% from 12937 yuan/ton on September 10th.

Recently (9.10-9.18), the overall operation of domestic butadiene rubber plants is still at a low level, and the pressure on the supply side of butadiene rubber is not significant.

On the demand side: With the support of domestic policies to promote automobile consumption, the downstream tire industry has maintained stable production, and the demand is facing the urgent support of the butadiene rubber market. As of September 6th, the operating load of semi steel tires in domestic tire enterprises is around 7.9%; The operating load of all steel tires in tire enterprises in Shandong region is about 5.9%.

Market forecast: From a fundamental perspective, analysts from Shengyi Society believe that the price of raw material butadiene will rise, and the cost center of butadiene rubber will shift upwards; Shunding rubber production remains at a low level, with little pressure on the supply side; Recently, downstream tire companies have started production steadily, which provides some support for Shunding Rubber. Overall, the Shunding Rubber market is expected to maintain a high level of operation in the short term.

According to the Commodity Market Analysis System of Shengyi Society, the price of PET water bottle grade has been weakly stable this week. As of September 14th, its average market price has been adjusted to 6337 yuan per ton.

At the beginning of the week, macro bearish sentiment remained, with crude oil and raw materials continuing to decline and PET cost support collapsing. On September 10th, OPEC lowered its forecast for global crude oil demand growth rate, offsetting potential supply risks from hurricanes in the Gulf region. International oil prices fell to their lowest point in 33 months. NYMEX crude oil futures 10 contract 65.75 fell $2.96 per barrel or 4.31%; ICE Brent Oil Futures 11 contract fell $2.65/barrel or 3.69% to 69.19. The main contract of Chinese INE crude oil futures, 2411, fell 1.7 to 508.7 yuan/barrel, and fell 14.2 to 494.5 yuan/barrel in the evening session. In the later part of the week, with the rebound of international crude oil and the recovery of commodity atmosphere, the rebound of polyester raw materials provided market support, coupled with the tight circulation of PET spot goods, the downward trend eased to some extent.

From the demand side, the industry’s mentality has been frustrated, and industry participants generally adopt more conservative strategies, being more cautious in placing orders, which may limit the rebound of PET spot market prices.

Overall, analysts from Business Society believe that the current PET market has a sharp supply-demand imbalance, with increased supply and weak demand, coupled with export obstacles, putting heavy upward pressure on the absolute price of the PET market. The market trend tends to be cautious and unstable.

Last week (September 2-8), the nylon filament market continued to maintain a stable trend, with prices temporarily stabilizing and consolidating. There is currently no significant improvement in downstream demand, and downstream manufacturers are following up on demand from multiple parties. The trading atmosphere in the market is still mainly flat; Raw material side: Sinopec’s high-end caprolactam weekly closing price has been lowered, while the market price of nylon PA6 chips remains stable, with average cost support; The industry’s operating rate remains stable, with little change in on-site supply. The inventory levels of various manufacturers are average, and inventory pressure is not significant. There is a lack of positive news to boost the market, and there is a strong wait-and-see atmosphere among industry players.

According to the Commodity Market Analysis System of Shengyi Society, the market price of nylon filament remained stable last week (September 2-8). As of September 8, 2024, the price of nylon filament DTY (premium product; 70D/24F) in Jiangsu region is 18680 yuan/ton, which is the same as the price at the beginning of the month. Nylon POY (premium product; 86D/24F) is priced at 16300 yuan/ton, which is the same as the price at the beginning of the month. The price of nylon FDY (premium: 40D/12F) is reported at 19725 yuan/ton, which is the same as the price at the beginning of the month.

Stable raw materials are the main focus

Last week (September 2-8), the basic situation of the nylon filament raw material caprolactam market was stable, with average cost support. There was a certain increase in the supply and demand of the caprolactam market, but there was a lack of significant boost in terminal demand. On September 8, the benchmark price of caprolactam in Shengyi Society was 12828.33 yuan/ton, which was the same as the price at the beginning of this month.

Supply and demand: Last week (September 2-8), the overall supply of nylon filament market remained stable. Most of the nylon filament market facilities are operating stably, and currently the daily production rate of the nylon filament market is around 8.4%. Good support from the demand side is difficult to find, the speed of on-site cargo flow is average, trading activity is average, and market confidence is insufficient.

Future forecast

Although entering the traditional peak season for textiles, downstream market demand will improve to some extent, but there is currently no obvious sign of improvement, and on-demand procurement is still the main focus; The cost side caprolactam market is expected to remain generally stable, while the cost side support for nylon filament is limited. Business analysts predict that in the short term, the nylon filament market will mainly stabilize and operate, with prices fluctuating narrowly.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the price of caustic soda has increased this week. The average market price at the beginning of the week was 831 yuan/ton, and the average market price over the weekend was around 833 yuan/ton, with a price increase of 0.24% and a year-on-year increase of 4.26%. On September 5th, the chemical index was 851 points, unchanged from yesterday, a decrease of 39.21% from the highest point of 1400 points during the cycle (2021-10-23), and an increase of 42.31% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to the period from December 1, 2011 to present)

2、 In terms of market conditions

According to the commodity analysis system of Shengyi Society, the price of caustic soda has been rising this week. The price of caustic soda in Shandong region is temporarily stable, with a mainstream market price of around 810-860 yuan/ton for 32% ion-exchange membrane alkali. The price of caustic soda in Jiangsu region is temporarily stable, with a mainstream market price of around 880-950 yuan/ton for 32% ion-exchange membrane alkali. The price of caustic soda in Inner Mongolia region is temporarily stable, with a mainstream market price of around 2300-2350 yuan/ton (converted to 100%) for 32% ion-exchange membrane alkali.

3、 Supply side

This week, caustic soda inventory was low. Data shows that as of September 5, 2024, the inventory of liquid alkali sample enterprises with a capacity of 200000 tons or more in the country was 286900 tons (wet tons), a decrease of 2.61% compared to the previous period. The maintenance of some facilities in Shandong region has played a significant role in boosting market prices.

4、 In terms of demand

This week, downstream alumina prices continued to show a stable to strong trend. Some aluminum plants that have a demand for replenishment have concentrated their purchases in the market, driving the price of caustic soda to continue to rise. Alumina continues to be in a tight pattern, and it is expected that there will still be a demand for replenishing caustic soda in the later stage.

According to the price monitoring of Shengyi Society, in the 35th week of 2024 (August 26-8.30), there was a total of 1 commodity that rose, 3 commodities that fell, and 2 commodities with zero rise and fall in the chlor alkali industry price list. The main commodities experiencing an increase are: caustic soda (2.60%); The main commodities experiencing a decline are: calcium carbide (-1.25%), baking soda (-0.69%), and PVC (-0.19%). The average increase or decrease this week is 0.08%.

Business Society analysts believe that in the near future, the price of caustic soda has risen and the inventory in the Shandong region has remained relatively low. Coupled with some downstream purchasing intentions increasing, there will be a slight increase in supply in Shandong next week. However, downstream demand, except for alumina, is average. The comprehensive supply and demand game predicts that caustic soda will maintain a stable operating market in the later stage, depending on downstream market demand.

1、 Price trend

According to the monitoring of the commodity market analysis system of Shengyi Society, the domestic isopropanol market continued to decline in August. On August 1st, the average price of isopropanol in China was 8090 yuan/ton, and on August 30th, the average price was 7380 yuan/ton. The price dropped by 8.78% during the month.

The domestic isopropanol market continued to decline in August. In the first ten days, the overall market mentality has changed, and the flexibility of on-site prices has been adjusted. Some factories have foreign trade orders to execute, and there is no obvious inventory pressure in the factories. The manufacturer’s quotation has been raised. Some holders have tight inventory, unable to sell at low prices, and offer at high prices. In the middle of the month, the market trading was average, and the raw material acetone fell sharply, affecting the mentality of the isopropanol market and causing manufacturers to lower their quotes. Overall, take a closer look and be cautious when making transactions. In the latter half of the year, the raw material acetone market saw a decline in market quotations, affecting the mentality of the isopropanol market, and the focus of on-site negotiations remained relatively low. Overall, there is still insufficient follow-up on downstream demand this month, and the overall trading performance in the market is poor. We are cautious about purchasing goods and are cautious about actual orders. As of now, most of the isopropanol market prices in Shandong are around 7200-7250 yuan/ton; The majority of isopropanol prices in the Jiangsu Zhejiang region are around 7300-7400 yuan/ton. The quotation for the South China region is between 7500-7800 yuan/ton.

In terms of import and export, according to customs statistics, the export volume of isopropanol in China in July 2024 was 7618334 kilograms, a decrease of about 21.1% compared to the previous month. The export amount is 8594873 US dollars. From January to July 2024, the cumulative export volume of isopropanol in China was 100949003 kilograms, with a cumulative amount of 109703455 US dollars. According to customs statistics, the import volume of isopropanol in China in July 2024 was 6516028 kilograms, a month on month increase of 92.6%, with an import amount of 5437503 US dollars. From January to July 2024, the cumulative import volume of isopropanol in China was 24716311 kilograms, with a cumulative amount of 39607248 US dollars.

In terms of raw material acetone, the acetone market experienced a wide decline in August. On August 1st, the average price of acetone was 6975 yuan/ton, and on August 30th, the average price was 6387.5 yuan/ton, a decrease of 8.42% in price. After a wide decline in the acetone market in August, the operating rate of phenol ketone factories remained high, and the import contract goods arrived at the port normally, with sufficient supply. Traders still have shipment pressure; From the demand side, solvent terminal factories have seen an increase in demand for acetone as the weather cools down. Currently, acetone has bottomed out, making it a good time for the demand side to restock. In September, there will be a demand for stocking during the Double Festival holiday, and Business Society expects that trading will improve in the later period.

In terms of propylene, the propylene market fluctuated and fell in August. On August 1st, the average domestic propylene price was 7133.25 yuan/ton, and on August 30th, the average price was 6968.25 yuan/ton, with a price reduction of 2.04%. At present, the inventory of enterprises has increased, and downstream demand is average. We should wait and see, and be cautious when purchasing actual orders. It is expected that the market will experience fluctuations and consolidation in the short term.

3、 Future forecast

The isopropanol analyst from Business Society Chemical Branch believes that the domestic isopropanol market will continue to decline this month. The acetone market has experienced a wide decline in raw materials, while the propylene market prices have fluctuated and fallen, resulting in insufficient cost support. Demand for isopropanol exports in China decreased by 21.1% month on month in July. The international export situation is somewhat average, and the domestic downstream market is weak. It is expected that the short-term isopropanol market will continue to operate weakly, and we will pay attention to the subsequent cost trend.

According to the monitoring of the commodity market analysis system of Shengyi Society, the 1 # tin ingot market in East China fell this week (8.26-8.29), with an average market price of 265640 yuan/ton at the beginning of the week and 265680 yuan/ton at the end of the week, a decrease of 0.21%.

Recently, tin prices have fluctuated downward. The price fluctuation has intensified, and the willingness of refineries to raise prices is supported, which has hindered the actual shipment volume. There is no significant improvement in the overall spot market, with traders selling steadily and first-time buyers restocking at low prices.

The demand terminal industry is in the off-season of consumption, with limited price advantages and suppressed order demand. The maintenance of leading enterprises and tight supply have provided support for tin prices. The tin ingot market still needs to pay more attention to whether the actual consumption during the peak season in the future market will increase, as well as changes in inventory.

According to the Commodity Market Analysis System of Shengyi Society, the price of domestic polyester filament decreased at the end of the month. Currently, the mainstream polyester filament factories in Jiangsu and Zhejiang offer POY (150D/48F) at a price of 7300-7600 yuan/ton, polyester DTY (150D/48F low elasticity) at a price of 8900-9100 yuan/ton, and polyester FDY (150D/96F) at a price of 7900-8100 yuan/ton.

Downstream and end customers have cautious expectations for the future, with a clear wait-and-see attitude. Polyester filament manufacturers are concentrating on offering discounts for shipments, while downstream users are buying at low prices. Today, downstream enterprises have basically completed inventory replenishment.

In terms of raw materials, as we entered August, demand and US economic data fell short of expectations, leading to global asset recession trading. The weak fundamentals of polyester raw materials were amplified by macroeconomic sentiment, with PX hitting a new low since its listing and PTA falling below the long-term support level of 5500 yuan/ton.

Overall, the recent market trend of polyester filament has shown a downward adjustment in prices, and the future development of the market will be influenced by various factors, including raw material prices, market supply and demand, export situation, and policy environment.

According to the Commodity Market Analysis System of Shengyi Society, the price trend of acetic acid has continued to decline recently (8.21-8.27). As of August 27th, the average market price of acetic acid was 3550 yuan/ton, a decrease of 125 yuan/ton or 3.40% compared to the price of 3675 yuan/ton on August 21st.

Recently, the acetic acid market has been weak and declining, with enterprise quotations continuously falling. On the supply side, the maintenance of the acetic acid plant is centralized, and the manufacturer’s inventory is not high, so the main focus is on maintaining shipments; On the demand side, downstream consumers are resistant to high priced goods, and their enthusiasm for entering the market for purchasing is weak, resulting in poor market trading. However, traders are eager to settle for safety, and the focus of transactions has shifted downwards. The weak downstream demand combined with the mentality of buying up and not buying down has led to a significant decline in the price of acetic acid in the market.

As of August 27th, the market prices of acetic acid in various regions are as follows:

Region/ August 21st/ On August 27th/ Rise and fall

South China region/ 3400 yuan/ton/ 3350 yuan/ton/ -50

North China region/ 3725 yuan/ton/ 3375 yuan/ton/ -350

Shandong region/ 3625 yuan/ton/ 3400 yuan/ton/ -225

Jiangsu region/ 3300 yuan/ton/ 3125 yuan/ton/ -175

Zhejiang region/ 3400 yuan/ton/ 3225 yuan/ton/ -175

The upstream raw material methanol market fluctuated upwards. As of August 27th, the average price in the domestic market was 2500.00 yuan/ton, an increase of 1.25% compared to the price of 2469.17 yuan/ton on August 21st. Part of the methanol plants have been shut down unexpectedly, resulting in a narrow reduction in domestic methanol production. In addition, the large-scale olefin extraction in the northwest has led to an increase in the domestic methanol market, but the traditional downstream market has not shown significant improvement, and the overall increase in methanol production is not significant.

The downstream acetic anhydride market is operating weakly. On August 27th, the average ex factory price of acetic anhydride was 5615 yuan/ton, which is 75 yuan/ton lower than the price of 5690 yuan/ton on August 21st. The upstream acetic acid market is weak and declining, and the cost support for acetic anhydride is weakened. Downstream acetic anhydride is following suit according to demand, and the market trading atmosphere is average. Acetic anhydride prices are consolidating and declining.

Market forecast: The acetic acid analyst from Shengyi Society believes that there will be more maintenance of the supplier’s acetic acid equipment, and the manufacturer’s inventory will not be affected. However, downstream demand is weak, market trading is poor, and the focus of traders continues to shift downwards. The market atmosphere is bearish, and it is expected that the acetic acid market will be weak and consolidated in the short term. We will pay attention to downstream follow-up in the future.

1、 Price trend

According to the commodity analysis system of Shengyi Society, the price of caustic soda has increased this week. On August 20th, the average market price was 801 yuan/ton, and on August 26th, the average market price was around 808 yuan/ton, with a price increase of 0.87% and a year-on-year increase of 1.64%. On August 26th, the chemical index was 857 points, a decrease of 1 point from yesterday, a decrease of 38.79% from the cycle’s highest point of 1400 points (2021-10-23), and an increase of 43.31% from the lowest point of 598 points on April 8th, 2020. (Note: The cycle refers to the period from December 1, 2011 to present)

2、 Market analysis

According to the commodity analysis system of Shengyi Society, the price of caustic soda has been rising this week. The price of caustic soda in Shandong region is temporarily stable, with a mainstream market price of around 785-860 yuan/ton for 32% ion-exchange membrane alkali. In Jiangsu region, the price of caustic soda is temporarily stable, with a mainstream market price of around 880-920 yuan/ton for 32% ion-exchange membrane alkali. In Inner Mongolia region, the price of caustic soda is temporarily stable, with a mainstream market price of around 2200-2300 yuan/ton for 32% ion-exchange membrane alkali (converted to 100 yuan). This week, the inventory of caustic soda is low, and the willingness to purchase has increased.

According to the price monitoring of Shengyi Society, in the 34th week of 2024 (8.19-8.23), there was a total of 1 commodity that rose, 3 commodities that fell, and 2 commodities with zero rise and fall in the chlor alkali industry price list. The main commodities experiencing an increase are: caustic soda (0.75%); The main commodities experiencing a decline are baking soda (-1.49%), light soda ash (-0.55%), and PVC (-0.22%). The average increase or decrease this week is -0.25%.

Business analysts believe that in the near future, the price of caustic soda has risen and the inventory in Shandong region has remained relatively low. In addition, some downstream buyers have increased their purchasing intentions at the end of the month. In addition, recent rainfall has led to a decrease in transportation volume. It is expected that caustic soda will continue to rise in the later period, depending on downstream market demand.